{"id":1755,"date":"2024-03-05T00:03:48","date_gmt":"2024-03-05T00:03:48","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/03\/05\/bitcoin-approaches-new-all-time-high-after-surpassing-65000\/"},"modified":"2024-03-05T00:03:48","modified_gmt":"2024-03-05T00:03:48","slug":"bitcoin-approaches-new-all-time-high-after-surpassing-65000","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/03\/05\/bitcoin-approaches-new-all-time-high-after-surpassing-65000\/","title":{"rendered":"Bitcoin approaches new all-time high after surpassing $65,000"},"content":{"rendered":"<div>\n<p class=\"\">The price of bitcoin soared past $65,000 Monday, putting it within striking distance of its all-time high reached in November 2021.<\/p>\n<p class=\"\">The cryptocurrency has gained 48% in 2024 and is approaching the intra-day all-time high of more than $68,000<\/p>\n<div><\/div>\n<p class=\"\">The latest rally is being fueled by hopes that the launch of bitcoin exchange-traded funds, or ETFs, will expand the pool of bitcoin buyers.  <\/p>\n<p class=\"\">These ETFs were approved in January by the Securities and Exchange Commission as a means of making it easier for investors to gain exposure to the price movements of bitcoin as part of a diversified portfolio without having to go through the sometimes onerous process of owning the digital coins themselves. <\/p>\n<p class=\"\">The ETFs have collectively already seen billions of dollars of investments. <\/p>\n<p class=\"\">The cryptocurrency world is also banking on a price rally coming after a technical event known as \u2018halving\u2019 occurs in April. This causes the rate of supply of new bitcoin to decline. Thus, if demand remains unchanged or even grows, the price goes up. <\/p>\n<p class=\"\">Bitcoin remains highly controversial, and many mainstream investment experts and market regulators urge caution about investing in it. For instance, SEC Chair Gary Gensler said the agency\u2019s ETF approvals were not an endorsement of bitcoin, calling it a \u201cspeculative, volatile asset.\u201d<\/p>\n<p class=\"\">And in a blog post in January, executives at financial giant Vanguard echoed that view, stating cryptocurrencies like bitcoin are \u2018more of a speculation than an investment\u2019 which is why the company does not offer crypto products. <\/p>\n<p class=\"\">\u2018With equities, you own a share of a company that produces goods or services, and many also pay dividends,\u2019 Vanguard said. \u2018With bonds, you get a stream of interest payments. Commodities are real assets that meet consumption needs, have inflation-hedging properties, and can play a\u00a0role in certain portfolios.\u2019<\/p>\n<p class=\"endmark\">\u2018While crypto has been classified as a commodity, it\u2019s an immature asset class that has little history, no inherent economic value, no cash flow, and can create havoc within a portfolio.\u2019<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of bitcoin soared past $65,000 Monday, putting it within striking distance of its all-time high reached in November 2021. The cryptocurrency has gained 48% in 2024 and is approaching the intra-day all-time high of more than $68,000 The latest rally is being fueled by hopes that the launch of bitcoin exchange-traded funds, or [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/1755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=1755"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/1755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/1756"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=1755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=1755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=1755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}